The Power of Connectivity: OEMs and Telematics
The Internet of Things (IoT) has garnered plenty of attention over the past few years – and for good reason. With access to information across various platforms, and the ability to take a deeper look into data and trends, IoT solutions provide greater connectivity, powerful aggregated insights and actionable insights.
Better known as telematics in the construction industry, the IoT is changing the way contractors and original equipment manufacturers (OEM) manage and analyze their fleets. Armed with data provided by telematics solutions – such as usage rates, engine data and possible maintenance issues – contractors and OEMs have the ability to make smarter decisions than ever before.
From maintenance issues and regulating service, to maximizing lifespan and tracking usage, telematics systems provide insight into equipment throughout the entire lifecycle of each piece of machinery – a benefit for both OEMs and contractors.
Here’s a look at which OEMs are leading the telematics revolution, the benefits such solutions provide to contractors and how smaller OEMs can integrate similar offerings among their equipment fleets.
Leading by example
OEMs who are not yet leveraging telematics to better their business are far behind the times and have plenty to learn from experienced equipment providers like CAT and John Deere. By offering insight into usage rates, lifespan and maintenance trends, telematics enables OEMs to better understand the vehicles and equipment they’re selling while also simplifying future production decisions.
CAT’s new VisionLink telematics dashboard, for example, allows customers to lean on their built-in telematic solutions to manage the maintenance and utilization of CAT equipment. From monitoring fuel burn and usage to checking in on the location and performance of equipment, VisionLink technology allows quick access to CAT equipment data. In a similar fashion, JDLink from John Deere helps contractors and equipment managers reach the next level of productivity and efficiency through automated utilization and maintenance reports pulled directly from contractor’s John Deere equipment.
But wshile OEMs like CAT and John Deere are applauded for their efforts in using telematics to benefit their customers, these solutions have yet to deliver complete value. These in-house telematics solutions are limited to tracking and managing only the equipment they manufacture themselves. The constraints of these specific telematics solutions lie behind their ability to deliver data of a contractor’s entire fleet – therefore leading contractors to look for other solutions that are able to aggregate data from each and every piece of equipment, regardless of make, model or OEM.
Benefits and beyond
Between the ability to track overall equipment utilization, to monitoring engine data for more proactive maintenance, it’s no wonder telematics solutions are becoming popular. Telematics solutions arm contractors and OEMs with powerful insights that can be used to manage fleets more effectively and improve day-to-day operations. In order to boost user adoption and satisfaction rates even further, OEM's can leverage new third party solutions that fully aggregate a user's data – leapfrogging the years of development that takes OEM's to build an in-house telematics solution that does the same. Unlike most in-house systems, these new white-label solution need only one window to display equipment data across a contractor’s entire fleet.
One such example is MachineLink. This world-class management tool quickly aggregates asset data for OEM customers, resulting in greater usage and satisfaction with the ability to aggregate data across an entire fleet, not just among one manufacturer brand. OEMs looking to provide this valuable solution – to drive insights, customer satisfaction and bottom line – should consider investing in a white label solution sooner rather than later.
At the end of the day, telematics data provides contractors and OEMs with the insight needed to manage their equipment more efficiently. Without providing customers insight into equipment data across their entire fleet, OEMs risk falling behind the competition. Instead of building out a costly, in-house telematics solution, OEMs should consider looking to white label solutions that can help contractors pull data across an entire fleet.